Bombay High Court Grants Bail to Wadhawan Brothers in Yes Bank Fraud Case

The court cited prolonged pre-trial detention and delays in the trial as key reasons for granting bail to the DHFL promoters accused in the ₹4,000 crore scam.

• Kapil and Dheeraj Wadhawan, promoters of Dewan Housing Finance Limited (DHFL), were granted bail after nearly four years and nine months in custody.
• The Bombay High Court highlighted that their detention exceeded half the maximum sentence of seven years they could face if convicted.
• The fraud case involves allegations of kickbacks and money laundering tied to Yes Bank's ₹4,000 crore loan to DHFL under former CEO Rana Kapoor's tenure.
• The court noted significant delays in the trial, including the fact that charges have not yet been framed despite the Enforcement Directorate submitting draft charges in May 2023.
• As part of their bail conditions, the Wadhawan brothers must remain in Maharashtra, report monthly to the ED, and furnish a bond of ₹1 lakh each.

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